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Green Investment for a Greener Earth

East Kalimantan’s lush, tropical rainforest and its snaking, babbling rivers welcomed representatives of the Governors’ Climate and Forest Task Force (GCF) Annual Meeting 2017. They flew in from nine countries to advance jurisdiction-wide approaches to Reducing Emissions from Deforestation and forest Degradation (REDD+) and low emission development. The initiative was launched in 2009 by 10 governors from Brazil, Indonesia and the United States. This year’s annual meeting aimed to discuss and share knowledge on inclusive and green economy.

Supporting the Ministry of Environment and Forestry (MoEF), GGGI Indonesia joined the opportunity to drive green economy in Indonesia by holding a jurisdictional learning exchange session at the GCF. Entitled “Green Investment for Reducing Deforestation and Forest Degradation”, the session focused on funding architecture and opportunities for emission reduction programs along with jurisdictional learning exchange regarding green investment from several regions in Brazil and Mexico.

Speakers from Brazil shared their experience in the journey to driving investment for REDD+ programs. Alex Marega, Deputy State Secretary of Environment, Mato Grosso, Brazil revealed the Mato Grosso’s multi-stakeholder “Program of Produce, Conserve, Include” (PCI) that mapped 204 initiatives implemented and co-financed by 381 different institutions, public and private. Meanwhile, Luzimeire Ribiero da Moura Carreira, State Secretary of Environment of Tocantins, Brazil brought to light the region’s strategy to ensure low carbon development and to maintain the decline in deforestation curve of the last 10 years.

In the same occasion, Alfredo Arellano, Minister of Environmental Affairs of Quintana Roo, Yucatan Peninsula, Mexico, shared lessons learned from the Yucatan Peninsula Framework Agreement on Sustainability for 2030 (ASPY 2030). This agreement was signed by 13 states and was also supported by three universities in commitment to green growth and conservation in the Yucatan Peninsula. Among the goals agreed upon was to leverage private and international financing to complement domestic public funding for green economy.

As the host of the event, East Kalimantan also shared its commitment for green investment. In collaboration with GGGI under the Forest Carbon Partnership Facility, the subnational government plans to attract investment by creating bankable project for REDD+ programs in the province. The move is part of the “Kaltim Green” program that targets emission reduction by 26 percent by 2020.

As part of the GCF, Indonesia is preparing Environmental Fund Management Agency (BPDLH) to ramp up its efforts for green investment. The BPDLH includes a climate change funding window, which also covers REDD+ funding. Driving green investment is a critical for the GCF members, as they represent one fourth of the world’s tropical forest. GGGI supports Indonesia to foster green investment and enabling conditions for greener Indonesia and greener earth.